When you’ve owned a business for 6 years, you get to learn a thing or two — or 6! (Well… I’ve definitely learned more than 6 things, but for the purposes of this blog post, I’m keeping it short and sweet. ;P)

From niching down, to pricing, to hiring, and everything in between… here are the 6 Things I’ve Learned After 6 Years in Business.

 

 

1. Set Boundaries

Newsflash! Contrary to popular belief, you don’t actually have to be available to everyone at all times of the day! Back in the beginning, when I was just starting out, I thought it was the absolute best customer service to be available for whatever, 24/7. Turns out — not only is that an exhausting cycle, but it’s a disservice to your clients. If you’re going to bring your A-game to your business and client work, you need to be well rested.

 

2.) Learn to delegate.

Creating a team around you to support you is a top priority. You can’t do everything yourself! As soon as it makes financial sense, hire people: from bookkeepers, to bankers, to CPAs, assistants, attorneys… even re-touchers! I would be running around like a chicken with my head cut off without the help of my team.

 

3.) Price yourself based on the cost of doing business.

When you’re just starting out, you might have the tendency to pick prices out of thin air. Instead of coming up with a random price that seems “fair”– and let’s be honest, that number’s probably way lower than what you’re actually worth– take a few hours to get out a notebook and create a Cost of Doing Business sheet. Total up your non-reimbursable expenses and your desired salary to calculate your annual costs. Then, divide that number by however many days you expect to work per year. That’s your Cost of Doing Business! When I did this, I projected it out several years so that I had goals to hit. It has served me well!

 

4.) Not everyone is your perfect client.

Be specific to who your target demographic is and stick to it. No excuses!

 

5.) It’s okay to not specialize in all styles.

In the creative space, it can sometimes feel like everyone is good at every style. First things first, that’s simply not true. But second, it’s okay to have a niche! And truthfully, having a niche is easier to market. So lean into it.

 

6.) Failure doesn’t mean you failed.

Failure, from time to time, is a part of business ownership. It sucks when it happens, but it’s the reality! The good news is that every failure brings you closer to your next success. So keep going, keep learning, and keep leading.

And that’s that! If you’re a business owner or creative entrepreneur, I see you. We are in these learnings together. And if you’re a photographer looking for more wisdom or mentorship, check out my coaching programs!